The REIT that caused me to lose so much is none other than Lippo Malls Trust. My purchase price was $0.44 and I sold it at $0.32 on Friday. The reason why I sold was due to the dismay quarterly result. I should have sold this REIT earlier. :(
Weakening Rupiah and new 10% tax contributed to the drop
Based on my purchase price of $0.44, my yield would not be attractive. It is not that hard to find a better REIT that could produce above 6% yield moving forward. The NAV as at 31 March 2018 was $0.30. The closing price as at 4-May-2018 was $0.32. The share price is currently trading above the NAV. With all the negativity surrounding this REIT, I feel there is a chance for the share price to drop further. With that said, $0.32 seems to be a current support line. The buy volume at $0.32 was also much higher than the sell volume at $0.325 when I sold on Friday.
Things are not all grim at Lippo Malls Trust. Trivia question: Can you guess how much bonus the previous CEO received for FY2017 when she retired in March 2017?
At least a million dollar was given for the CEO post for FY2017!!!
Salary 7% and Bonus 78%? How is that even possible? 8th Wonder of the World?! Best Employee of the Century?!
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